Entire section

4.1. Perpetual qualifying hybrid capital instruments

An AIFC-Incorporated Takaful Operator may only include perpetual qualifying hybrid capital instruments as part of its Tier 2 Capital if:

  • (a) they are unsecured, subordinated and fully paid-up;
  • (b) they are perpetual; and
  • (c) they are available to absorb losses on a going concern basis.